Discovery Capital Finance Corp. has secured a credit facility from Union Bank of the Philippines to expand lending to small businesses, particularly those in underserved areas outside major urban centers, as reported by Philstar Biz .
The credit line is expected to bolster Discovery Capital's capacity to provide working capital and equipment loans to micro, small, and medium enterprises (MSMEs) that often face difficulty accessing traditional bank financing. UnionBank's support aligns with its push to deepen financial inclusion through partnerships with non-bank lenders.
Details of the facility, including the amount and terms, were not disclosed. Discovery Capital, a non-bank financial institution, has been expanding its MSME loan portfolio in recent years, focusing on sectors such as retail, agriculture, and services in provincial areas.